Date of Record: June 11, 2012
UPDATED: February 6, 2017 (Heat Loan Rebate approved at the January 14, 2017 Board meeting)

GELD is now working with Workers’ Credit Union to offer 0% interest energy conservation loans for owner- occupied homes or condominiums. These loans are available for electric thermal storage systems, geothermal systems or air heat pumps.

GELD is also offering a 10% REBATE (not to exceed $500), for customers that do not choose the zero interest loan option. Please check the appropriate box on the application.

Residents must contact HELPS for a free home energy audit (1-888-333-7525) and submit a loan application for pre approval before the start of any work.


Eligible Improvements


Loan Amounts (max. repayment period 84 months)

  • Electric thermal storage systems, geothermal or air heat pumps – up to $25,000
  • Minimum / Maximum loan amounts – $1,000 / $25,000


Loan Application Process

  1. Customers who are contemplating applying for the 0% interest loan or the rebate must first have a free energy audit. The appointment can be scheduled by calling the HELPS program at 1-888-333-7525. GELD Heat Loans are available only for owner-occupied homes where the resident is a GELD customer.
  2. Based upon the audit recommendations and the customer’s desire to make the improvements, the customer should get a cost estimate for the proposed work. The customer may do the work him/her self, in this case the materials only are covered by the loan. If a contractor is hired both labor and material costs are covered.
  3. The Heat Loan Authorization Form is available at the GELD office or can be emailed. The authorization form and a copy of the energy audit must be submitted to GELD.
  4. GELD will review the application and notify the customer of approval or denial of the GELD Application. In the case of the application not being approved, a reason will be given.
  5. The customer then brings the GELD approved and signed authorization form to Workers’ Credit Union where they will submit a loan application which must be approved.
  6. If approval is granted by Workers’ Credit Union, applicant will receive a loan check for the full amount of the loan and GELD will pre-pay the interest to Workers’ Credit Union. The loan payments will be made directly to Workers’ Credit Union each month.
  7. Applicant then has work completed by contractor(s).
  8. Following the project completion, the customer calls the HELPS program for a post-installation inspection. Rebate will be processed by GELD after post-installation inspection.


Apply for Heat Loan Program


Acceptable ratings for Air-Source Heat Pumps

Air-Source Heat Pumps – split systems*

>= 12 HSPF >=20 SEER**

* For multi-zone heat pump systems, >= 11 HSPF >=18 SEER**
**Seasonal Energy Efficiency Ratio


Air-Source Heat Pump (ASHP):  An air-source unitary heat pump model consists of one or more factory-made assemblies which normally include an indoor conditioning coil(s), compressor(s), and outdoor coil(s), including means to provide a heating function. ASHPs shall provide the function of air heating with controlled temperature, and may include the functions of air-cooling, air-circulation, air-cleaning, dehumidifying or humidifying.

Heating Seasonal Performance Factor (HSPF): This is a measure of a heat pump’s energy efficiency over one heating season. It represents the total heating output of a heat pump (including supplementary electric heat) during the normal heating season (in Btu) as compared to the total electricity consumed (in watt-hours) during the same period. HSPF is based on tests performed in accordance with AHRI 210/240 (formerly ARI Standard 210/240).

 Seasonal Energy Efficiency Ratio (SEER):  
This is a measure of equipment energy efficiency over the cooling season. It represents the total cooling of a central air conditioner or heat pump (in Btu) during the normal cooling season as compared to the total electric energy input (in watt-hours) consumed during the same period. SEER is based on tests performed in accordance with AHRI 210/240 (formerly ARI Standard 210/240)1.

Note: Mini-Split cooling-only units are not eligible.